A Look at EGCO and PT Chandra Daya Investasi’s Deal

Electricity Generating (EGCO), the power generation subsidiary of the state-run Electricity Generating Authority of Thailand, announced the acquisition of a 30% stake in PT Chandra Daya Investasi, an Indonesia-based company. The deal, valued at US$194 million, was orchestrated via EGCO’s fully-owned subsidiary, Phoenix Power BV, and is expected to be finalised by year-end.

PT Chandra Daya Investasi (CDI) is a subsidiary of PT Chandra Asri Petrochemical Tbk Group (CAP), Indonesia’s premier integrated chemical and infrastructure solution provider. CDI has a robust portfolio comprising electricity generation and distribution, water supply, and tank and jetty management.

The company’s operations span across strategic areas and an industrial estate in Cilegon and Serang cities in Banten province, West Java.

CDI’s industrial estate, the largest in Indonesia, has witnessed…